Ardmore Shipping Corporation (ASC) Receives Daily Media Sentiment Rating of 0.16
News coverage about Ardmore Shipping Corporation (NYSE:ASC) has trended somewhat positive recently, according to Accern. The research group identifies negative and positive media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ardmore Shipping Corporation earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave media coverage about the shipping company an impact score of 46.5521971797512 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Shares of Ardmore Shipping Corporation (NYSE:ASC) opened at 7.55 on Tuesday. The company’s market cap is $253.49 million. The firm’s 50-day moving average price is $7.59 and its 200-day moving average price is $7.68. Ardmore Shipping Corporation has a 12 month low of $5.00 and a 12 month high of $8.75.
Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.06) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.06). The firm had revenue of $49.85 million during the quarter, compared to the consensus estimate of $31.73 million. Ardmore Shipping Corporation had a negative return on equity of 2.35% and a negative net margin of 6.92%. The business’s revenue was up 25.5% compared to the same quarter last year. During the same period last year, the company earned $0.18 earnings per share. Equities analysts predict that Ardmore Shipping Corporation will post ($0.14) EPS for the current fiscal year.
Ardmore Shipping Corporation declared that its board has authorized a share buyback plan on Thursday, August 31st that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the shipping company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
ASC has been the subject of several recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $10.00 price target on shares of Ardmore Shipping Corporation in a research note on Tuesday, July 4th. Zacks Investment Research cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub cut Ardmore Shipping Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. TheStreet cut Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a research note on Wednesday, May 24th. Finally, ValuEngine cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Ardmore Shipping Corporation has a consensus rating of “Hold” and a consensus price target of $10.50.
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Ardmore Shipping Corporation Company Profile
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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